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Seattle Real Estate

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Spring is here, and it’s time to start planning your home improvements so that you can relax and enjoy the summer. The following are some ideas for specific things you can do to not only protect and secure your home through the fall and winter, but also to increase your Madison Park home’s value.

Upgrade Windows: Many homes in Madison Park are older construction and don’t have the eco-friendly and energy-efficient upgrades that new construction have. If your home still has single-paned windows or poor quality dual-paned ones, it’s definitely time for an upgrade. Some window types to consider include insulated windows that improve energy efficiency, gas-filled windows that improve thermal resistance, or windows with low-e coating to prevent heat transfer in or out.

Chimney Inspection & Waterproofing: If you have a working fireplace, you should really have your chimney inspected once each year. It’s very hard to tell whether your system is damaged or there’s a build up of creosote (read: fire hazard) unless you’re a chimney professional. Chimney damage is best repaired during the spring and summer months because the job requires dry conditions, so for Madison Park homes, you’ll want the inspection sooner rather than later to allow optimal time for repairs before service providers are booked up for the season.

Replace the Roof: This may not apply for some, but spring and summertime are the most ideal seasons for roof replacement in the Seattle area to maximize work time and get the job done sooner, without waiting for the rain to stop. Replacing your roof in the warm and dry time of year also minimizes the chance of moisture damage to your sub-roof. Even if your roof doesn’t need replacement, it might be time for a good cleaning.

Give Your Yard a Facelift: Spring is all about planting and reviving the life in your green spaces, and there’s no better time to enhance your home’s curb appeal as well as create some new outdoor living spaces than this season. Whether it’s some basic landscaping to create some more interest from a boring grassy backyard, to adding a firepit area or outdoor kitchen, the options abound!

Test Your Home’s Air Quality: Even if you don’t have noticeable presence of mold, there are other particles or odors that can cause mild to severe health problems for you and your family if they are left untreated. Have your home’s indoor air quality tested to ensure the most healthy environment for you and your loved ones.

 

We are halfway through the year and the Seattle real estate market is still the talk of the nation. Inventory is still low and prices are still high throughout King County. The real estate market in Madison Park & Washington Park is still strong compared to the first half of 2016. The median cost for a single-family home as jumped from $1,430,000 (2016) to $1,800,000 (2017) and the lowest price has gone up from $656,000 to $885,000. The average list price has increased from $1,628,767 to $1,810,310, as well as the sold price that saw a climb from $1,662,492 to $1,818,759. There were 2 fewer sales these last 6 months, but all sold in the same time frame of about 35 days. There are currently 22 active single-family homes in the Madison Park & Washington Park neighborhood and 11 pending.

Condominium in the area are also rising in price. The median price for a condo has gone up from $545,000 to $622,000 and the lowest has increased from $255,000 to $310,000. The average sold price for a condo is now $787,200, last year’s price was a bit lower at $722,814. There is currently 3 active condominium listing and 2 pending.

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Just like most of Seattle, Madison Park and Washington Park continue to climb in price. Last May there were 6 sales in the neighborhoods combined and the median price for a single-family home was $1,367,500. This past May the median price for a home has gone up to $1,922,500! The average list price in the area has jumped from $1,621,250 to $1,873,000 in just one month! There are currently 13 single-family homes active in the two neighborhoods. The highest active listing price is $12,850,000 and the lowest is $700,000. 

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There were 3 condo sales last month, which is 3 less than last May (2016). The average sold price for a condo has made a tremendous jump from $575,492 to $919,000. According to the Northwest Multiple Listing Service, there are currently two condos active and 4 pending. 

Contact your local real estate agent for their expertise in the Madison Park & Washington Park neighborhoods!

The photos above:

Extraordinarily private & expansive 120+ ft lakefront estate with level lawn, lush grounds, swimming pool, hot tub, & dock. Open concept William Bain designed home with second story added during extensive remodel. All main rooms look onto the stunning setting. Designed for indoor-outdoor enjoyment, rooms open to grounds through the many glass doors. Paneled living room, sandstone fireplaces, Carrarra marble kitchen, family room, glorious master suite! Choice location near shops, restaurants & downtown!

5 bedrooms & 4.25 bathrooms – 6,020 sq ft. 

Available for $12,850,000 

Although it’s not Seattle’s most expensive zip code or neighborhood (Downtown and Medina are leading there), Madison Park is one of our city’s priciest areas to live in. Many of the homes in the neighborhood are far beyond the budgets of middle class families, but it is possible to find an affordable home in Madison Park.

In fact, Seattle Curbed recently shared a handful of properties that are relatively affordable (around $1 million), considering their location…

For a waterfront, park view, you can get a three-bedroom, two-bath 1967 condo for $1,050,000. The views are 180-degrees – something to see from every room! The kitchen was recently remodeled, and there’s a wonderful wrap-around deck.

For $1,250,000, you can acquire a lovely Mid-Century house with five bedrooms and four bathrooms. At 3,070 square feet, there’s lots of space! The fifth bedroom is located on the lower level with its own living space, so you can use it as a Mother-In-Law apartment or rent it out for additional income. And the home even has a two-car garage attached (rare in Seattle).

Let’s end with the low-price highlight… A beautiful two-bedroom, 1.5 bath Madison Park condo is listed at $399,999. And it’s only two blocks from the beachfront at Madison Park. It’s a two-story unit with an open kitchen and living space, skylight and newer appliances.